You now have something special. Think of it as finding a fossil while hiking or a piece of petrified wood while walking on a beach. You have something neat to show off and (hopefully) an interesting story to go with it. Congrats on such a rare find!
I found an 1883 no cents liberty nickel Friday night while searching a $100 Brinks box. I started a thread that has scans of the coin. My online research leads me to believe this one (the 1883 no cents) would fetch between $9 and $12 in vf condition. As for your 1907....no idea.....why not take it to a dealer and get it appraised?
While checking the war nickels i bought i found a liberty nickel.
1907, 101 years old! what's this thing worth?
Very cool find! Too bad old coins can't talk and tell us their individual histories. That would be somethinbg to learn everywhere a coin traveled, what it bought, etc.
Anyone who sorts coins regularly might consider getting a "Red Book" - they are available at any coin dealer shop and many large book stores. They come out every year and list the current collector market value for all US coins in every condition. Hardcover is like $16 - worth it especially if you deal with a lot of Morgans or other coins with "key dates". It could be the difference between parting with a $1,000 coin for 50 cents or not.
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world. -Caxton's edition of Aesop's Fables, 1484
Also, buy the spiral bound copies. Especially if money is tight in your household like in most nowadays (or to save more money in reserves for hunting).
You can usually grade circulated liberty nickels by the headband that the lady is wearing. It says 'LIBERTY'. How many of the letters are legible and how sharp they are determine the grade. I'd recommend You must be logged in to see this link. from the Coin Community's Coin Facts section to assist in grading. Once you have an idea of the grade, I'd look at the You must be logged in to see this link. for a rough idea of value. You can also check eBay's completed auctions. Keep in mind that a dealer will pay you much less.